Markets activity remained muted with Nifty ending with modest gains above 24,800 despite cooling off from days as markets have already discounted September Fed rate cut. At present, the Indian markets is seen overstretched comparable to global indices, key risk may emanate from breakout in realized volatility of Nifty in JPY terms. Crucial support for Nifty is seen at 24,650 below which, markets may see free fall towards 22,500.
Nifty 50 Chart
Stocks to watch
Positive Read through
- Adani Power – NCLT approves resolution plan to buy Lanco Amarkantak for Rs. 41.01 bn.
- Allied Blend – In strategic alliance with Lexplosion Solutions for compliance management software.
- Bharti Airtel – GST demand notice cut to Rs. 1.94 bn from Rs. 6.04 bn earlier.
- Wipro – In pact with John Lewis partnership for firm’s IT infra.
- Jain Irri – MoU with Indian Coffee board for release of disease-resistant coffee plants.
- Railtel – Bags order worth Rs. 527 mn from UP Police Recruitment & Promotion Board.
- J&K Bank – India Rating upgrades long- term tier II bonds ratings to Ind AA-/stable.
- Power Mech – Board approves bonus issue of 1 share for every 1 share held.
- Poly Medicure – Raises Rs. 10 bn via QIP, Lighthouse India Fund, SBI MF allottees.
- PDS Ltd – QIP opens, floor price Rs. 563.59/share.
- Eris Life – Chrys Capital sell entire stake via block, Infinity Partners buyers.
- Kalyan – Wargburg Pincus sells 7.15 pct stake via block, HSBC MF, Invesco MF among buyers.
- BEL – Announced Rs. 6.95 bn order win for combat management systems.
- Lemon Tree – Signs new property in Shivpuri, MP, this hotel will feature 50 well-appointed rooms.
- Hindalco – Plan USD 10 bn investment in India ops, Novelis expansion.
Negative Read through
- Ambuja – Promoter to sell 2.84 pct stake via block, issue price at Rs. 600/share, as per reports.
- PNB Housing – Asia Opportunities sells 3 pct stake via block, Singapore Government buyer.
- Nykka – Harindarpal Singh to sell up to 1.4 pct stake via block, Floor price at Rs. 198/ share.
- SBI Life – Gets tax, interest and penalty demand order of Rs. 2.39 bn for FY19-20.
- NHPC – Landslide at Teesta-V power station (510 MW) of the company in Sikkim.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
